Kindred Group Plc – Interim Report
“Strong business momentum and continued focus on scalability contribute to significant increase in underlying EBITDA”. Henrik Tjarnstrom, CEO KINDRED GROUP PLC INTERIM REPORT JANUARY - MARCH 2021 Financial highlights First quarter 2021 Gross winnings revenue amounted to GBP 352.6 (249.7) million, an increase of 41 per cent. Underlying EBITDA was GBP 98.0 (42.5) million. The result for the quarter was impacted by foreign currency losses on operating items of GBP 8.0 (1.8) million which are primarily unrealised losses as they relate to the retranslation of foreign currency current assets and liabilities. As the Group has significant cash balances in foreign currencies, and foreign currency rate movements were substantial, the impact was unusually large during the quarter. Profit before tax amounted to GBP 85.3 (2.4) million. Profit after tax amounted to GBP 72.6 (1.0) million. Earnings per share were GBP 0.32 (0.00). During the quarter, 1,032,500 shares/SDRs were purchased at a total price of SEK 146.0, or GBP 12.4, million. Free cash flow amounted to GBP 90.1 (22.3) million. Number of active customers was 1,818,759 (1,531,302). Key highlights The start of the year has continued to show strong business momentum across all markets and product segments with Gross winnings revenue up 41 per cent. Strict focus on scalability has led to an underlying EBITDA margin of 28 per cent, including unrealised foreign currency losses of GBP 8.0 million. Active customers reached a new all-time high of 1.8 million, which puts the Group in a strong position ahead of the big summer of sport.
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